4 in 10 Seoul Homebuyers Are First-Timers, Highest Since 2010

[Economy 365]

More than 4 out of every 10 people who purchased collective housing units in Seoul this year were first-time homebuyers, data shows.

According to the Supreme Court’s Registry Information Plaza, there were 72,025 registrations for the purchase of collective housing units in Seoul from January to May of this year. Of these, 32,843 were first-time purchases, accounting for 45.6% of the total.

This is the highest proportion recorded since the relevant statistics were first made public in 2010.

The share of first-time buyers rose from 42.1% in January to 48.7% in April and 48.5% in May.

By district, Nowon-gu had the highest rate at 60.6%, while Seongbuk-gu and Gangbuk-gu also exceeded 57%.

Among these first-time buyers, those in their 30s accounted for 56.1%, marking the first time this demographic has surpassed the 50% threshold since the statistics began.

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